3D Printing in Aerospace and Defense Market Growing to Exhibit a Striking Growth with CAGR of 18.00% by 2030
Aerospace and Defence firms are using 3D Printing to create complex structural engine components, cabin interiors and much more. It helps them reduce the weight of aircraft, which improves efficiency and performance.
The aerospace 3D-printing market will also recover from its pandemic phase by 2020. Key opportunities include the development of advanced 3D-printing technology, part consolidation and reduced costs.
Global 3D Printing in Aerospace and Defense Market Size was estimated at USD 1352.49 million in 2023 and is projected to reach USD 4308.32 million by 2030, exhibiting a CAGR of 18.00% during the forecast period.
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Growth
The 3D printing process is additive manufacturing, which adds layers to material (typically polymer or metal) in order to create an item. This process is a radical departure from traditional manufacturing methods, which remove materials through drilling or whittling. 3D printing is used in aerospace and defense to create more complex components, while also reducing weight.
Aerospace and Defense companies use 3D printing for repairs and maintenance of existing aircraft as well as new aircraft. Metal 3D printing can be used, for example, to create replacement blades for damaged turbines. This is a faster and cheaper method than removing a damaged blade, remachining it, then reinstalling it.
The aerospace 3D-printing industry is growing due to the increase in air passenger traffic. The load factor of airlines will increase 5.5 percentage points in August 2023 compared to August last year.
The global 3D printing aerospace market is segmented into two segments: printers and materials. In 2021, the printer segment was dominant. FDM printers are the fastest-growing segment. This is due to their use in early stage aircraft development for concept models.
FDM also produces parts that are robust enough to be integrated into final products, without the costs and lead times of traditional tooling.
The major players operating in the 3D Printing in Aerospace and Defense Market are Stratasys, 3D Systems, Arcam Group, Renishaw, ExOne, Optomec, SLM Solutions, EnvisionTEC, VoxelJet AG, Sciaky Inc, EOS E-Manufacturing Solutions, GE.
Recent Development
aerospace sector will hold the largest share due to an increasing use of 3D-printing for the design and development of aircraft parts, such as cabin accessories. air ducts, cast metal components, etc. Space flight companies also use this technology to develop complex space equipment, including satellites and rockets.
This technology is also being used to produce functional prototypes for aerospace components that are tested aerodynamically. The process also allows for the consolidation of parts, which reduces the number of components and production costs.
It is particularly beneficial to airlines, as it reduces the need for warehouse space, eliminates waste, and alleviates limitations in supply chains.
This method is also used to repair and maintain aerospace equipment such as jet engines and blades. In these applications, metal 3D printing technology such as Direct Energy Deposition is commonly used to provide more cost-effective and efficient repairs.
Manufacturers of aircraft components are using this technique to design and manufacture end-parts within their own facilities. It is possible to speed up product development by not outsourcing high-value tasks to third parties.
Aerospace and defence companies, for example, use the technique to produce prototypes of electronic devices, such as circuit boards and antennas, that can be tested before final production.
Segment
Prototyping, or 3D printing, can be used to create concept models that were created during the early stages in design. It can be used to produce end-use components, as well as a wide range of materials from metals to polymers. This technology offers many advantages over conventional manufacturing processes.
It can reduce the weight of aircraft, for example. It can reduce fuel consumption and emissions of carbon dioxide. This can also improve efficiency and payload capability.
The market is segmented based on printer type, application, and material. Printer types include fused deposition modelling (FDM), select laser sintering, stereolithography and direct metal laser melting. Material is divided into ceramics, metals, and polymers. Aerospace applications rely heavily on polymers due to their durability and lightweight.
They are not as strong as metals. Aerospace can also benefit from ceramics. They are able to provide a high degree of rigidity and stabilty. Metals offer precision, strength and durability, making them a great choice for aerospace applications.
North America dominates the market for aerospace and defense 3D printers, due to an increase in spending on aircraft. The market is expected to grow significantly during the forecast period, mainly due to increased investments in defense equipment. Europe and Asia are also expected to grow significantly.
Regional Outlook
Aerospace and Defense industries use 3D printing to create components that are lightweight. The technology is also used to replace or repair broken parts, encourage innovation and create prototypes for R&D.
These technologies are able to produce complex geometries, which cannot be achieved with traditional manufacturing methods. This technology can also reduce production costs by producing large quantities of parts and reducing waste.
Aerospace 3D printing demand is increasing due to the need for lighter aircraft engines and cabin equipment. The space segment is also expected to grow significantly due to the increased expenditure on satellites and rockets.
The availability of 3D metal printers in North America, Europe and Asia is also driving the market's growth. A number of players in the area are developing advanced models capable of producing high-quality metal parts.
These printers use the fused filament technology (FFF), and are designed for industries, engineering companies, educational institutions, and R&D centres. Wipro Limited, for example, launched a 3D printer industrial grade that uses FFF technology to serve these markets.
Global competition is fierce, so leading players invest in new product development to increase their market share. In addition, they collaborate with other organizations in order to create cost-effective products. Stratasys - a 3D printing manufacturer - worked with hospitals during the COVID-19 epidemic to develop medical equipment.
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